03:27 PM EDT, 05/30/2025 (MT Newswires) -- Energy stocks were lower late Friday afternoon, with the NYSE Energy Sector Index down 0.5% and the Energy Select Sector SPDR Fund (XLE) dropping 0.8%.

The Philadelphia Oil Service Sector index slumped 1.7%, while the Dow Jones US Utilities index rose 1%.

Front-month West Texas Intermediate crude oil declined 0.4% to $60.72 a barrel, and the global benchmark Brent crude contract shed 0.4% to $63.90 a barrel. Henry Hub natural gas futures fell 2.1% to $3.45 per 1 million BTU.

In corporate news, Civitas Resources ( CIVI ) holds quality assets that support its valuation, but upside is constrained by oil market uncertainty and high leverage, RBC Capital Markets said. RBC downgraded Civitas to sector perform from outperform and cut its price target to $40 from $47. Civitas shares were falling 2.4%.